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Asia stocks rise after data drives Wall Street up

Aug 25, 2011 12:34:00 AM - thestate.com
Asian stock markets rose Thursday after a late-day surge on Wall Street, while the resignation of Steve Jobs - the force behind Apple Inc. - sent ripples through the technology sector.

Oil prices hovered above $85 a barrel in Asia. The dollar rose against the euro but dropped against the yen.

Asian markets got a boost from U.S. data showing a surge in demand for cars and planes in July that offered an unexpectedly upbeat sign of life in the world's biggest economy.

Japan's Nikkei 225 rose 2 percent to 8,815.13. Hong Kong's Hang Seng was 1.5 percent higher to 19,762.86 as strong half-year earnings from China National Offshore Oil Corp. and Bank of China Ltd. on Wednesday boosted sentiment.

South Korea's Kospi jumped 1.6 percent to 1,782.97 and Australia's S&P/ASX 200 rose 1.2 percent to 4,217. Benchmarks in Singapore, Indonesia, India and Thailand were also higher.

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